Fmr LLC Has $73,000 Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Fmr LLC lifted its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 142.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,262 shares of the company’s stock after purchasing an additional 3,092 shares during the period. Fmr LLC’s holdings in Titan Machinery were worth $73,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in Titan Machinery in the second quarter valued at about $36,000. Canada Pension Plan Investment Board acquired a new position in shares of Titan Machinery in the second quarter valued at approximately $37,000. nVerses Capital LLC increased its stake in shares of Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $38,000 after buying an additional 1,300 shares during the period. Truvestments Capital LLC bought a new position in Titan Machinery in the 3rd quarter valued at approximately $41,000. Finally, US Bancorp DE boosted its position in Titan Machinery by 116.2% during the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after buying an additional 1,677 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TITN. Northland Securities restated a “market perform” rating and issued a $25.00 price target on shares of Titan Machinery in a research report on Friday, September 13th. B. Riley decreased their price objective on Titan Machinery from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.00.

Titan Machinery Trading Up 1.4 %

NASDAQ:TITN opened at $13.82 on Wednesday. Titan Machinery Inc. has a 52 week low of $12.30 and a 52 week high of $29.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The firm’s fifty day moving average is $14.67 and its 200-day moving average is $14.95. The firm has a market cap of $319.60 million, a P/E ratio of 10.31 and a beta of 1.30.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The business had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $675.30 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities analysts expect that Titan Machinery Inc. will post 0.05 earnings per share for the current year.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.